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A BILL TO BE ENTITLED
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AN ACT
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relating to temporarily decreasing the rate of state sales and use |
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taxes under certain circumstances. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Subchapter C, Chapter 151, Tax Code, is amended |
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by adding Section 151.0511 to read as follows: |
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Sec. 151.0511. TEMPORARY DECREASE IN TAX RATE; CONDITIONS. |
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(a) Using any available methods and revenue estimates, the |
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comptroller shall: |
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(1) determine the amount of the ending certification |
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balance for the state fiscal biennium ending August 31, 2025, that |
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is attributable to revenue during that state fiscal biennium from |
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the taxes imposed under this chapter; |
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(2) determine the amount, if any, of the estimated |
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ending certification balance for the state fiscal biennium ending |
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August 31, 2027, that is attributable to revenue during that state |
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fiscal biennium from the taxes imposed under this chapter if those |
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taxes are imposed at the tax rate provided by Section 151.051(b); |
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and |
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(3) if the amount determined under Subdivision (2) is |
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more than 50 percent of the amount determined under Subdivision |
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(1): |
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(A) determine the tax rate that, when substituted |
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for the tax rate described by Subdivision (2), results in the amount |
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determined under Subdivision (2) equaling 50 percent of the amount |
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determined under Subdivision (1); and |
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(B) publish the tax rate determined under |
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Paragraph (A) in the Texas Register and on the comptroller's |
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Internet website and provide notice of that tax rate to sales tax |
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permit holders. |
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(b) If the condition provided by Subsection (a)(3) is |
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satisfied, the rate of the sales tax and use tax under this chapter |
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applicable in the state fiscal biennium ending August 31, 2027, is |
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the rate determined under Subsection (a)(3)(A), notwithstanding |
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Section 151.051(b). |
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(c) This section expires December 1, 2027. |
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SECTION 2. This Act takes effect immediately if it receives |
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a vote of two-thirds of all the members elected to each house, as |
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provided by Section 39, Article III, Texas Constitution. If this |
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Act does not receive the vote necessary for immediate effect, this |
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Act takes effect September 1, 2025. |